Nokia Oyj, the world’s biggest maker of mobile phones by units shipped, cut its smartphone prices in Europe by as much as 15 percent at the beginning of this month, according to analyst firm CCS Insight.
Nokia Oyj replaced Chief Executive Officer Olli-Pekka Kallasvuo last year after the stock sank 55 percent during his four-year tenure. Successor Stephen Elop has presided over a 37 percent loss in just eight months.
Nokia Oyj Chief Executive Officer Stephen Elop said he beat expectations by getting the company’s first Microsoft Corp. smartphone on the shelves in time for Christmas. Winning consumers will require a marketing blitz.
As Nokia Oyj claws its way back into the smartphone market with its Lumia handsets, it risks missing the next big trend as consumers shift toward a category the Finnish company has neglected: big-screen handhelds.